Manufacturing in U.S. Expands at a Faster Pace Than Forecast

Titanium wedding ring for men and women

Manufacturing is poised to make a bigger contribution to the U.S. expansion after a factory barometer unexpectedly climbed in August to the highest level in more than two years.

The Institute for Supply Management’s index rose to 55.7, the strongest since June 2011, from 55.4 a month earlier, the Tempe, Arizona-based group’s report showed today. Readings above 50 indicate growth. The median forecast in a Bloomberg survey of economists was 54.
Enlarge image U.S. ISM Manufacturing Index Rose to 55.7 in August From 55.4

Sept. 3 (Bloomberg) -- Bloomberg Econmics Editor Michael McKee reports that U.S. manufacturing expanded more than expected in August to 55.7, the fastest pace since June 2011. He speaks on Bloomberg Television's "Market Makers."

American producers are leading a global manufacturing recovery that stretches from China to Europe as their economies improve. Resilient U.S. demand for motor vehicles is prompting companies such as Ford Motor Co. (F) to expand, while further strides in construction are bolstering orders for building materials, appliances and furniture.  Read more...